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Tuesday, March 03, 2015

Defence budget hiked by nearly 11 per cent

The defence budget was increased on Saturday by 10.95 per cent to Rs 2.46 lakh crore for the next fiscal as compared to the revised estimates of Rs 2.22 lakh crore for 2014-15 as the government focuses on 'Make in India' to curtail over-dependence on imports.

The defence budget accounts for nearly 13.88 per cent of the total central government expenditure for the year 2015-16 which is Rs 1,777,477.04 crore.

While the government had last year alloted Rs 2.29 lakh crore in the budget, it was revised to Rs 2,22,370 crore.